Research On The Impact Of The Third Board On The Performance Of Subsidiary Companies

2015 is a year of big expansion of China's new third board.Due to the relatively loose audit of the new third board in China's securities regulatory commission,the new third board has ushered in its own great era.As of the beginning of 2016,the number of companies listed in the new third board has reached 5,129.Compared with the end of 2014,the number of listed companies has increased by 226.27%.By the beginning of 2017,more than 10,000 enterprises in China have been listed on the new third board.The number of new third board companies is growing even faster than the Shanghai and shenzhen exchanges combined.So it is very important to study the new third board.And for spin-off listed subsidiary,China securities regulatory commission(CSRC)has always been strictly grasp,so very few domestic successful spin-off case,many listed companies to spin off subsidiaries are chose to borrow in overseas markets.In the context of the new third board,money poured into the new third board market,and many companies seized the opportunity to split their subsidiaries into the new third board.What are the main reasons why so many companies have opted for the new third board? How does it affect the performance of the spin-off subsidiary? It is one of the reasons to study the influence of large-scale specific behaviors under special background.Again for the start of the new three board market in China time is shorter,the rise in the field of study is of certain significance and the current our country to spin-off subsidiary to the new three board,a subsidiary of little performance research.This paper introduces the present situation of the spin-off company listed on the new three board and related statistics,the spin-off companies listed on the new three board on the reason analysis and simple introduction spin-off subsidiary listed on the new three board for the company's audit requirements.Chosen by the end of 2015,63 subsidiaries successfully listed on the new three board data,and 41 subsidiaries 14 financial indexes with factor analysis method to split the performance impact of this behavior to investigate.